OPEN-SOURCE SCRIPT

Supertrend Filter

A derivation of the famous SuperTrend indicator.

My motivation for such indicator was to use more recursion in the original SuperTrend code, this work was made quite fast but feel free to modify it, as always my work is more for inspirational use than anything else so i hope it will inspire you to get more involved with the SuperTrend code or to start coding with Pine.

The indicator no longer act as a trailing-stop but more like a filter, this is due to the fact that the indicator conditions are swapped and that the output is reused many times in the calculation.

Parameters change as well and involve particular gestion. The Factor Parameter is no longer an integer but decimals such that 0 < Factor < 1.

When the Period is high the indicator tend to become less linear/static and look more like a classic moving average.So it is important to have higher Factor values when the Period is high and reciprocally.Here a table to help you with parameters settings :

for Period = 1 to 50 Factor = 0.5
for Period = 50 to 100 Factor = 0.6
for Period = 100 to 150 Factor = 0.7
for Period = 150 to 200 Factor = 0.8
for Period = 200 to 300 Factor = 0.9

There could be a formula to scale the Factor depending on the Period but there would be no proof that the scaling method used is optimal.

Hope you enjoy

For any questions/demands feel free to pm me, i would be happy to help you








filtersupertrendtrendTrend Analysis

Open-source Skript

Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?


Check out the indicators we are making at luxalgo: tradingview.com/u/LuxAlgo/
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